Crypto Whales Are Loading Up — Are You?
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The beauty market is seeing strong demand especially in the high-end category which bodes well for Estee Lauder as evidenced by one-third of its brands showing double digit growth in the quarter, Staszak noted. The company also saw overall strength in e-commerce and "travel sales" at major airport.
Looking forward the beauty company thinks it deliver a local-currency revenue growth of up to 8 percent and double-digit earnings growth over the next three years, the analyst continued. These should be considered to be achievable targets and the analyst's long-term earnings growth rate of 14 percent remains unchanged.
Meanwhile, Estee Lauder's reputation of steadily raising its dividend, which yields around 1.3 percent, should remain in place moving forward.
Finally, Estee Lauder's strong performance in the quarter also prompted the analyst to raise his rating on the entire consumer staples sector from Underweight to Market Weight. Investors are also encouraged to allocate up to 10 percent of their investments to this group.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.